Instead of having to manually select a % to withhold, add the option to automatic withhold all tax owing. It is difficult to convert the taxation system to a single percentage, and then remember to update it depending on the income level.
I believe you would need a multi-pass optimizer for this. The amount you withhold affects taxes owed, and the small differences compound over time.
I understand the complexity of accounting for the cash outlay for taxes in the year for which they are actually due, but I think it might be a simple change to label the cash outlay appropriately in the cashflow diagram to avoid confusion, especially for newer PL users. Maybe this could be a separate suggestion to upvote on.
Looking for this. This must account for any tax deferrals such as 401(k) contributions taken out of salary.
Since there’s now a Tax Analytics feature that handles the progressive tax calculation, that could be leveraged here.
In Germany, capital gains tax is automatically collected by the broker at the moment of selling assets or receiving interest or dividends. Therefore no tax is ever owed for the upcoming year. It would be really good if one could enable a “withhold all tax” setting for each income source.